Cy Walker invests $20,000 of his personal savings into Mookie the Beagle Concierge. MTB Concierge needs to record the deposit using QBO. Required: Decord the Deposit
Cy Walker invests $20,000 of his personal savings into Mookie the Beagle Concierge. MTB Concierge needs to record the deposit using QBO. Required: Decord the Deposit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:f 10
!
Required information
2. View the Transaction Journal for the Deposit.
a. From the Navigation Bar, select Accounting
b. From the Chart of Accounts, select Checking > View Register > Deposit > Edit
c. From the bottom of the screen, select More > Transaction Journal
d. What are the Account and Amount Debited?
Note: Answer this question in the table shown below. Round your answer 2 decimal places.
e. What are the Account and Amount Credited?
Note: Answer this question in the table shown below. Round your answer 2 decimal places.
d. Debit
e. Credit
X Answer is not complete.
Account
Checking
Owner's Investment
✓
$
Amount
3,003.00 x

Transcribed Image Text:Cy Walker invests $20,000 of his personal savings into Mookie the Beagle Concierge. MTB Concierge needs to record the deposit
using QBO.
Required:
1. Record the Deposit.
a. Select (+) New icon > Bank Deposit
b. Select Account: 1001 Checking
c. Select Payment Date: 01/01/2023
d. In the Add Funds to This Deposit section, select Account: 3003 Owner's Investment
e. Select Payment Method: Check
f. Enter Reference Number: 5001
g. Enter Amount: 20000.00
h. What type of account is Owner's Investment?
i. Select Save and close
h. Type of account
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